S&P Global: Turkish central bank’s net reserves have partially recovered but remain weak

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智通财经2026/10/22 07:06

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S&P Global stated in its report that the Central Bank of Turkey’s net reserves have partially recovered from the low point in mid-2026, but still considers its reserve position to be weak.
As of early October, reserves had rebounded to 167.4 billion US dollars; however, this is still about one quarter lower than the pre-conflict peak of 218.0 billion US dollars.
Gold accounts for approximately 65% of total reserves, and fluctuations in gold prices lead to simultaneous changes in the reserve scale.
S&P Global estimates that the central bank’s available reserves are only slightly higher than the amount needed to cover two months of current account payments, indicating limited scale.
The institution expects the policy interest rate to be 28% by the end of 2027, and the lira-to-dollar exchange rate to be 55.

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S&P Global: Turkish central bank’s net reserves have partially recovered but remain weak

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